Blipping the throttle on it's first run ever is fun and all, but make sure you do a proper break-in (run-in) procedure on that engine.
I stole the following from somewhere; some racing parts vendor no doubt (EDIT- From Briggs World Formula Engine manual):
The first 30 minutes of this engine’s life are the most important to ensure trouble-free racing. After mounting the engine, we recommend that the engine be broken in using any high grade non-synthetic SAE-rated 30 weight oil. Run the engine, no load, at idle (1,700-2,000 rpm) to allow the engine to reach normal operating temperature (5-8 minutes). Shut the engine off and allow to return to room temperature. Again start up the engine and bring up to temperature (5-8 minutes). Shut off engine and change the oil. Replace the oil (16-18 ounces) and it is time to place ‘load’ on the engine. To apply a load on the engine the easiest way to do this is to run the engine on the track. Running not higher than 6,000 rpm, take several laps (depending on course length). With the oil still warm drain and replace the oil. Repeat and slowly begin to bring the engine up to speed.